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Friday, May 11, 2018

Paul Robinson — Time to break free from America

Some steps have already been taken. We see new financial structures outside US control beginning to emerge, such as the Asian Infrastructure Investment Bank and the petro-yuan. Already financial journalists are speculating that the US decision to renege on the Iranian nuclear deal will strengthen the latter. I tend to the view that such developments are an inevitable part of the global shift in economic power. As the US declines in relative economic terms, its grip on international institutions is bound to weaken. But decisions such as that concerning Iran can only accelerate this process. Very gradually, but nonetheless more and more perceptibly, other countries are going to want to distance themselves from the United States.

The Americans are like a man sinking in quicksand.: the more he struggles in an effort to get out, the faster he sinks. As their relative power declines, the Americans are fighting with all their might to retain their hegemony, striking out in sometimes rather peculiar directions. But the very act of struggling just sucks them down further. In the aftermath of Trump’s decision on Iran, the sound of the sand sucking America under can be heard louder and clearer than ever before....

Once a critical mass is reached, there is a rush for the door. It builds gradually but finishes fast.

But in the background is the voting booth, and leaders know that leadership can change. Some European leaders are getting concerned about following the lead of the US since it is not popular at home. More importantly, the business communities that getting hurt are pressuring their governments to change course and protect them from becoming collateral damage in US economic warfare.